The Australian economy is expected to grow by 3 per cent in 2010-11 and 3¾ per cent in 2011-12, although there are substantial downside risks to the world economic outlook.
The underlying cash and fiscal balances are projected to remain in deficit in 2010-11 and 2011-12, returning to surplus from 2012-13. Table 1 provides revised estimates and projections of the underlying cash and fiscal balances for the period from 2010-11 to 2013-14.
Table 1: Summary of budget aggregates
(a) Excludes expected Future Fund earnings.